Indian textile industry has shown a strong growth, sustained by strong domestic consumption. Availability of raw materials such as cotton, wool, silk and jute in huge quantity and skilled workforce has made India an important player in the textile industry. During FY14, powerloom is expected to be almost flat as compared to FY13. But in FY15, it is expected to grow by 11.5 per cent. Major growth in FY15 will be seen in the Mill segment (17.5 per cent), followed by powerloom and handloom. Textile exports are expected to grow by more than 15 per cent during FY15.
The Indian textiles and clothing industry is one of the largest contributors to the countrys exports. Exports of textiles have increased steadily over the last few years, particularly after 2004, when textiles exports quota stood discontinued.